Better have HLS or one of the loan people give their expert opinion. My layman’s opinion is that for 5.62% to start as an adjustable you might as well not kiss your sister and just go fixed, that’s almost what the current rate is. Things that are too good to be true usually are, but since this isn’t that good, it’s propbably legit.
Even if you plan to have the loan for less than 5 years, you may end up with it for longer and in ten years you could be paying 9.62% for the ability to shave an 1/8 or two right now. That’s why they call it gambling.
